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Capital Markets

Hong Kong exchange confident of Aramco listing

Chief of market operator believes Saudi oil company will select city

Charles Li, chief executive of Hong Kong Exchanges & Clearing speaks at a conference in Hong Kong on Tuesday. (Photo by Mariko Tai)

HONG KONG -- The chief executive of Hong Kong Exchanges & Clearing on Tuesday expressed confidence of a Hong Kong listing for Saudi Arabian Oil, the state company better known as Saudi Aramco, despite a recent report that the oil giant now expects a local initial public offering.

Speaking to reporters at Credit Suisse's annual Asian Investment Conference, Charles Li, the chief executive of the Hong Kong market operator, said that while Aramco may or may not come to Hong Kong for its IPO, "We believe they'll ultimately choose Hong Kong."

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